Bank of England Cuts Interest Rates 5.5%
Published / Last Updated on 05/12/2007
The Bank of England monetary policy committee has met today and decided to reduce base rates by 0.25% to 5.5%.
Our view
This cut is actually around two months earlier than we predicted but given the mounting pressure on lenders inclduding the Northern Rock issues, the economy and house price falls with warnings of a property crash, it is not surprising. We expect another rate cut in either January or February.
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